Quorso raises $5.2m for global expansion
Business performance platform Quorso has closed a $5.2m (£4m) Series A funding round.
Led by OMERS Ventures and joined by existing investor Hambro Perks, the cash will be put toward acceleration of its global commercial expansion.
The Quorso platform helps businesses to measure impact and success through a single platform.
Founded in 2016, by ex-McKinsey partner and consultant duo, Julian Mills and Dan Slowe, it now has offices in London, New York and Kyiv.
Quorso’s existing customers include National Express, Edwardian Hotels, and Compass Group.
The firm claims that 82 per cent of its users utilise the platform on a weekly basis to generate net new revenue opportunities, optimise team efficiency, and improve business operations.
"Every business in the world is focused on improving performance. And as data gets richer and more accessible, there is no shortage of smart insights. But embedding these insights effortlessly into your operational management process, so that the right person takes the right action and drives extra revenue or saves costs, is hugely challenging," said Quorso Founder & CEO, Julian Mills.
Dan Slowe, Founder and CPO said: “This investment will enable us to scale rapidly in global markets as well as take advantage of our worldwide first-mover status in the Augmented Analytics category.
“We are delighted to have OMERS join us as a strategic partner with their global portfolio and long-term approach.”
Harry Briggs, managing partner at OMERS Ventures, will join Quorso’s board of directors following the investment.
“We believe most companies are a fraction as productive as they could be,” said Briggs.
“Despite vast IT investment, productivity has barely budged, because it’s so hard to translate the myriad of insights from big data into correctly-prioritised actions at every level of an organisation.
“We believe the Quorso team has the potential to change that – empowering every employee directly to their phone and bringing a new level of transparency and continuous improvement to management.”